Title
Resolution Authorizing Professional Services Agreement Between the City of Greensboro and McGladrey LLP to Provide Independent Audit Services for Fiscal Years 2015 - 2017, With Two Annual Renewals Thereafter, Subject to Annual Evaluation
Body
Department: Finance
Council District: All
Public Hearing: n/a
Advertising Date/By: n/a
Contact 1 and Phone: Rick Lusk, Finance Director 373-2077
Contact 2 and Phone: Marlene Druga, Deputy Finance Director 373-2094
PURPOSE: In accordance with G.S. 159-34(a), the NC Local Government Commission (LGC) requires that the governing board approve the independent auditor's contract and that the selected auditor shall report directly to the board. As discussed and recommended unanimously at the March 26, 2015 meeting of the City of Greensboro's Audit Committee, the City Council is requested to approve the proposed three (3) year audit contract with McGladrey LLP for FY 2015 - FY 2017 audit services in the amount of $212,340 for the three (3) year term.
BACKGROUND: The City of Greensboro has followed a Request for Proposal (RFP) cycle since 1983 to obtain independent audits of the City's financial statements, awarding 3-year contracts that also contain an option for additional one-year extensions. The last audit contract was awarded in 2006 and extended through 2014. Cherry Bekaert LLP has performed satisfactorily for the most recent 20 years under contract and has periodically rotated their staff and partners associated with audit services provided to the City. Prior to that, the City contracted with Deloitte & Touche for 12 years and before that, with A.M. Pullen for 19 years.
SOLICITATION: In February 2015, the City distributed an RFP for audit services. To promote equal opportunity in accordance with the City's M/WBE Policy, the Centralized Contracting Division (CCD) consulted with the M/WBE Office and at their recommendation, the North Carolina Department of Administration's Historically...
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